Spot gold slipped 0.5% to $4,462.93 per ounce and U.S. gold futures fell 0.5% to $4,495.84 per ounce.
Silver dropped 1.1% to $74.31 per ounce; platinum eased 0.6% to $1,923.60 per ounce.
Geopolitical developments: Israel continued military operations in southern Lebanon, Iran launched ballistic missiles at Kuwait and Bahrain, and U.S. forces struck Iran’s Qeshm Island near the Strait of Hormuz.
Diplomatic backdrop: Talks between Israel and Lebanon scheduled; tentative U.S.-Iran framework to halt conflict not yet approved; Tehran reportedly not communicating with Washington; President Donald Trump said negotiations were ongoing.
U.S. labor market data: Job openings unexpectedly rose in April, reinforcing expectations that the Federal Reserve may keep monetary policy restrictive and could consider a rate hike later in the year.
Market expectations: Traders anticipate the Fed to hold rates steady at the June meeting but price in the possibility of a later hike; higher rates increase the opportunity cost of holding non‑yielding assets like gold.
Upcoming U.S. economic releases: ADP employment report, ISM services survey, factory orders, and the non‑farm payrolls report due later in the week.
US Dollar Index remained largely unchanged against major peers.
